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        <curCd>USD</curCd>
        <valUSD>9357008.46000000</valUSD>
        <pctVal>0.379203916031</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ASPEN INSURANCE HOLDINGS LIMITED</name>
        <lei>549300YX6HECG9XQCQ75</lei>
        <title>Aspen Insurance Holdings Ltd PREFERRED STOCK</title>
        <cusip>G05384154</cusip>
        <identifiers>
          <isin value="BMG053841547"/>
        </identifiers>
        <balance>220510.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>5636235.60000000</valUSD>
        <pctVal>0.228415162851</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>BM</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>U.S. BANCORP</name>
        <lei>N1GZ7BBF3NP8GI976H15</lei>
        <title>US Bancorp PREFERRED STOCK</title>
        <cusip>902973759</cusip>
        <identifiers>
          <isin value="US9029737593"/>
        </identifiers>
        <balance>469949.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>11805118.88000000</valUSD>
        <pctVal>0.478416507546</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>U.S. BANCORP</name>
        <lei>N1GZ7BBF3NP8GI976H15</lei>
        <title>US Bancorp PREFERRED STOCK</title>
        <cusip>902973866</cusip>
        <identifiers>
          <isin value="US9029738666"/>
        </identifiers>
        <balance>11463.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>10175705.10000000</valUSD>
        <pctVal>0.412382572784</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Truist Financial Corporation</name>
        <lei>549300DRQQI75D2JP341</lei>
        <title>Truist Financial Corp PREFERRED STOCK</title>
        <cusip>89832Q810</cusip>
        <identifiers>
          <isin value="US89832Q8107"/>
        </identifiers>
        <balance>138953.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>3361273.07000000</valUSD>
        <pctVal>0.136219595872</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>TELEPHONE AND DATA SYSTEMS, INC.</name>
        <lei>N/A</lei>
        <title>Telephone and Data Systems Inc PREFERRED STOCK</title>
        <cusip>879433761</cusip>
        <identifiers>
          <isin value="US8794337613"/>
        </identifiers>
        <balance>551125.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>10493420.00000000</valUSD>
        <pctVal>0.425258347641</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BANK OF AMERICA CORPORATION</name>
        <lei>9DJT3UXIJIZJI4WXO774</lei>
        <title>Bank of America Corp PREFERRED STOCK</title>
        <cusip>060505591</cusip>
        <identifiers>
          <isin value="US0605055914"/>
        </identifiers>
        <balance>146693.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>3535301.30000000</valUSD>
        <pctVal>0.143272297235</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>THE ALLSTATE CORPORATION</name>
        <lei>OBT0W1ED8G0NWVOLOJ77</lei>
        <title>Allstate Corp/The PREFERRED STOCK</title>
        <cusip>020002309</cusip>
        <identifiers>
          <isin value="US0200023093"/>
        </identifiers>
        <balance>403791.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>10676234.04000000</valUSD>
        <pctVal>0.432667104421</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>MORGAN STANLEY</name>
        <lei>IGJSJL3JD5P30I6NJZ34</lei>
        <title>Morgan Stanley PREFERRED STOCK</title>
        <cusip>61761J406</cusip>
        <identifiers>
          <isin value="US61761J4067"/>
        </identifiers>
        <balance>807815.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>20478110.25000000</valUSD>
        <pctVal>0.829899816049</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>UNITED STATES CELLULAR CORPORATION</name>
        <lei>549300B164AZXESI6E03</lei>
        <title>United States Cellular Corp PREFERRED STOCK</title>
        <cusip>911684884</cusip>
        <identifiers>
          <isin value="US9116848840"/>
        </identifiers>
        <balance>404527.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>9215125.06000000</valUSD>
        <pctVal>0.373453922202</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="543725.00000000"/>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Brookfield BRP Holdings (Canada) Inc.</name>
        <lei>549300NSPD7QJ50GZW26</lei>
        <title>Brookfield BRP Holdings Canada Inc PREFERRED STOCK</title>
        <cusip>11259P109</cusip>
        <identifiers>
          <isin value="US11259P1093"/>
        </identifiers>
        <balance>286209.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>4705275.96000000</valUSD>
        <pctVal>0.190686914270</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>CA</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>WELLS FARGO &amp; COMPANY</name>
        <lei>PBLD0EJDB5FWOLXP3B76</lei>
        <title>Wells Fargo &amp; Co PREFERRED STOCK</title>
        <cusip>94988U151</cusip>
        <identifiers>
          <isin value="US94988U1512"/>
        </identifiers>
        <balance>1612522.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>32798697.48000000</valUSD>
        <pctVal>1.329206292622</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>REINSURANCE GROUP OF AMERICA, INCORPORATED</name>
        <lei>LORM1GNEU1DKEW527V90</lei>
        <title>Reinsurance Group of America Inc PREFERRED STOCK</title>
        <cusip>759351802</cusip>
        <identifiers>
          <isin value="US7593518027"/>
        </identifiers>
        <balance>320080.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>8008401.60000000</valUSD>
        <pctVal>0.324550016263</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>JACKSON FINANCIAL INC.</name>
        <lei>213800WXW2KG1N4CO374</lei>
        <title>Jackson Financial Inc PREFERRED STOCK</title>
        <cusip>46817M206</cusip>
        <identifiers>
          <isin value="US46817M2061"/>
        </identifiers>
        <balance>443403.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>12180280.41000000</valUSD>
        <pctVal>0.493620375527</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>OFFICE PROPERTIES INCOME TRUST</name>
        <lei>N/A</lei>
        <title>Office Properties Income Trust PREFERRED STOCK</title>
        <cusip>67623C208</cusip>
        <identifiers>
          <isin value="US67623C2089"/>
        </identifiers>
        <balance>131399.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1561020.12000000</valUSD>
        <pctVal>0.063262200204</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Brookfield BRP Holdings (Canada) Inc.</name>
        <lei>549300NSPD7QJ50GZW26</lei>
        <title>Brookfield BRP Holdings Canada Inc PREFERRED STOCK</title>
        <cusip>11259P307</cusip>
        <identifiers>
          <isin value="US11259P3073"/>
        </identifiers>
        <balance>119670.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>3150911.10000000</valUSD>
        <pctVal>0.127694426407</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>CA</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>THE GOLDMAN SACHS GROUP, INC.</name>
        <lei>784F5XWPLTWKTBV3E584</lei>
        <title>Goldman Sachs Group Inc/The PREFERRED STOCK</title>
        <cusip>38143Y665</cusip>
        <identifiers>
          <isin value="US38143Y6656"/>
        </identifiers>
        <balance>603755.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>14610871.00000000</valUSD>
        <pctVal>0.592122955057</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>UNITED STATES CELLULAR CORPORATION</name>
        <lei>549300B164AZXESI6E03</lei>
        <title>United States Cellular Corp PREFERRED STOCK</title>
        <cusip>911684702</cusip>
        <identifiers>
          <isin value="US9116847024"/>
        </identifiers>
        <balance>401124.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>9398335.32000000</valUSD>
        <pctVal>0.380878736271</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>W. R. BERKLEY CORPORATION</name>
        <lei>SQOAGCLKBDWNVYV1OV80</lei>
        <title>W R Berkley Corp PREFERRED STOCK</title>
        <cusip>084423805</cusip>
        <identifiers>
          <isin value="US0844238057"/>
        </identifiers>
        <balance>251524.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>5739777.68000000</valUSD>
        <pctVal>0.232611329006</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>NEXTERA ENERGY CAPITAL HOLDINGS, INC.</name>
        <lei>UMI46YPGBLUE4VGNNT48</lei>
        <title>NextEra Energy Capital Holdings Inc PREFERRED STOCK</title>
        <cusip>65339K860</cusip>
        <identifiers>
          <isin value="US65339K8606"/>
        </identifiers>
        <balance>552207.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>13457284.59000000</valUSD>
        <pctVal>0.545372491378</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>MORGAN STANLEY</name>
        <lei>IGJSJL3JD5P30I6NJZ34</lei>
        <title>Morgan Stanley PREFERRED STOCK</title>
        <cusip>61762V606</cusip>
        <identifiers>
          <isin value="US61762V6065"/>
        </identifiers>
        <balance>801728.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>19987079.04000000</valUSD>
        <pctVal>0.810000191236</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>THE CHARLES SCHWAB CORPORATION</name>
        <lei>549300VSGCJ7E698NM85</lei>
        <title>Charles Schwab Corp/The PREFERRED STOCK</title>
        <cusip>808513865</cusip>
        <identifiers>
          <isin value="US8085138654"/>
        </identifiers>
        <balance>478646.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>10171227.50000000</valUSD>
        <pctVal>0.412201112709</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="1082625.69000000"/>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>THE SOUTHERN COMPANY</name>
        <lei>549300FC3G3YU2FBZD92</lei>
        <title>Southern Co/The PREFERRED STOCK</title>
        <cusip>842587883</cusip>
        <identifiers>
          <isin value="US8425878837"/>
        </identifiers>
        <balance>599048.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>11837188.48000000</valUSD>
        <pctVal>0.479716166294</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="3353272.00000000"/>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>JPMORGAN CHASE &amp; CO.</name>
        <lei>8I5DZWZKVSZI1NUHU748</lei>
        <title>JPMorgan Chase &amp; Co PREFERRED STOCK</title>
        <cusip>48128B622</cusip>
        <identifiers>
          <isin value="US48128B6222"/>
        </identifiers>
        <balance>722675.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>15956664.00000000</valUSD>
        <pctVal>0.646662819796</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ASSOCIATED BANC-CORP</name>
        <lei>549300N3CIN473IW5094</lei>
        <title>Associated Banc-Corp PREFERRED STOCK</title>
        <cusip>045487600</cusip>
        <identifiers>
          <isin value="US0454876006"/>
        </identifiers>
        <balance>227401.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>5682750.99000000</valUSD>
        <pctVal>0.230300254451</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>AFFILIATED MANAGERS GROUP, INC.</name>
        <lei>2JE75BUE3T1BLCYYGK54</lei>
        <title>Affiliated Managers Group Inc PREFERRED STOCK</title>
        <cusip>008252827</cusip>
        <identifiers>
          <isin value="US0082528276"/>
        </identifiers>
        <balance>363871.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>9271433.08000000</valUSD>
        <pctVal>0.375735871800</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>LINCOLN NATIONAL CORPORATION</name>
        <lei>EFQMQROEDSNBRIP7LE47</lei>
        <title>Lincoln National Corp PREFERRED STOCK</title>
        <cusip>534187885</cusip>
        <identifiers>
          <isin value="US5341878859"/>
        </identifiers>
        <balance>399775.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>11313632.50000000</valUSD>
        <pctVal>0.458498436426</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>THE GOLDMAN SACHS GROUP, INC.</name>
        <lei>784F5XWPLTWKTBV3E584</lei>
        <title>Goldman Sachs Group Inc/The PREFERRED STOCK</title>
        <cusip>38144G804</cusip>
        <identifiers>
          <isin value="US38144G8042"/>
        </identifiers>
        <balance>1068324.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>25372695.00000000</valUSD>
        <pctVal>1.028258694582</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BANK OF AMERICA CORPORATION</name>
        <lei>9DJT3UXIJIZJI4WXO774</lei>
        <title>Bank of America Corp PREFERRED STOCK</title>
        <cusip>060505195</cusip>
        <identifiers>
          <isin value="US0605051954"/>
        </identifiers>
        <balance>598634.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>15079590.46000000</valUSD>
        <pctVal>0.611118369618</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="2048.36000000"/>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BANK OF AMERICA CORPORATION</name>
        <lei>9DJT3UXIJIZJI4WXO774</lei>
        <title>Bank of America Corp PREFERRED STOCK</title>
        <cusip>06055H202</cusip>
        <identifiers>
          <isin value="US06055H2022"/>
        </identifiers>
        <balance>894513.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>19554054.18000000</valUSD>
        <pctVal>0.792451342867</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>MORGAN STANLEY</name>
        <lei>IGJSJL3JD5P30I6NJZ34</lei>
        <title>Morgan Stanley PREFERRED STOCK</title>
        <cusip>61762V853</cusip>
        <identifiers>
          <isin value="US61762V8533"/>
        </identifiers>
        <balance>802315.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>20932398.35000000</valUSD>
        <pctVal>0.848310382552</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>HUDSON PACIFIC PROPERTIES, INC.</name>
        <lei>N/A</lei>
        <title>Hudson Pacific Properties Inc PREFERRED STOCK</title>
        <cusip>444097307</cusip>
        <identifiers>
          <isin value="US4440973075"/>
        </identifiers>
        <balance>338701.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>4819715.23000000</valUSD>
        <pctVal>0.195324702033</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CAPITAL ONE FINANCIAL CORPORATION</name>
        <lei>ZUE8T73ROZOF6FLBAR73</lei>
        <title>Capital One Financial Corp PREFERRED STOCK</title>
        <cusip>14040H758</cusip>
        <identifiers>
          <isin value="US14040H7585"/>
        </identifiers>
        <balance>537775.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>10169325.25000000</valUSD>
        <pctVal>0.412124021762</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CITIGROUP CAPITAL XIII</name>
        <lei>N/A</lei>
        <title>Citigroup Capital XIII PREFERRED STOCK</title>
        <cusip>173080201</cusip>
        <identifiers>
          <isin value="US1730802014"/>
        </identifiers>
        <balance>1791015.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>54357305.25000000</valUSD>
        <pctVal>2.202894558003</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BRIGHTHOUSE FINANCIAL, INC.</name>
        <lei>5493003T8SZSHOGGAW52</lei>
        <title>Brighthouse Financial Inc PREFERRED STOCK</title>
        <cusip>10922N202</cusip>
        <identifiers>
          <isin value="US10922N2027"/>
        </identifiers>
        <balance>304124.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>7435831.80000000</valUSD>
        <pctVal>0.301345942943</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SCE TRUST VIII</name>
        <lei>N/A</lei>
        <title>SCE Trust VIII PREFERRED STOCK</title>
        <cusip>80620A208</cusip>
        <identifiers>
          <isin value="US80620A2087"/>
        </identifiers>
        <balance>267148.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>7015306.48000000</valUSD>
        <pctVal>0.284303653325</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>MORGAN STANLEY</name>
        <lei>IGJSJL3JD5P30I6NJZ34</lei>
        <title>Morgan Stanley PREFERRED STOCK</title>
        <cusip>61762V200</cusip>
        <identifiers>
          <isin value="US61762V2007"/>
        </identifiers>
        <balance>692408.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>17545618.72000000</valUSD>
        <pctVal>0.711057102947</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BANK OF AMERICA CORPORATION</name>
        <lei>9DJT3UXIJIZJI4WXO774</lei>
        <title>Bank of America Corp PREFERRED STOCK</title>
        <cusip>06055H806</cusip>
        <identifiers>
          <isin value="US06055H8060"/>
        </identifiers>
        <balance>910865.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>17042284.15000000</valUSD>
        <pctVal>0.690658869811</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>REGIONS FINANCIAL CORPORATION</name>
        <lei>CW05CS5KW59QTC0DG824</lei>
        <title>Regions Financial Corp PREFERRED STOCK</title>
        <cusip>7591EP886</cusip>
        <identifiers>
          <isin value="US7591EP8869"/>
        </identifiers>
        <balance>320055.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>6394698.90000000</valUSD>
        <pctVal>0.259152791737</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="2043300.00000000"/>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>AFFILIATED MANAGERS GROUP, INC.</name>
        <lei>2JE75BUE3T1BLCYYGK54</lei>
        <title>Affiliated Managers Group Inc PREFERRED STOCK</title>
        <cusip>008252850</cusip>
        <identifiers>
          <isin value="US0082528508"/>
        </identifiers>
        <balance>228110.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>5394801.50000000</valUSD>
        <pctVal>0.218630758298</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ALBEMARLE CORPORATION</name>
        <lei>HDBLS2Q6GV1LSKQPBS54</lei>
        <title>Albemarle Corp PREFERRED STOCK</title>
        <cusip>012653200</cusip>
        <identifiers>
          <isin value="US0126532003"/>
        </identifiers>
        <balance>920972.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>44519786.48000000</valUSD>
        <pctVal>1.804217389166</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>FIRST CITIZENS BANCSHARES, INC.</name>
        <lei>549300N3Z00ZHE2XC526</lei>
        <title>First Citizens BancShares Inc/NC PREFERRED STOCK</title>
        <cusip>319626305</cusip>
        <identifiers>
          <isin value="US3196263053"/>
        </identifiers>
        <balance>275598.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>6586792.20000000</valUSD>
        <pctVal>0.266937601585</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CMS ENERGY CORPORATION</name>
        <lei>549300IA9XFBAGNIBW29</lei>
        <title>CMS Energy Corp PREFERRED STOCK</title>
        <cusip>125896852</cusip>
        <identifiers>
          <isin value="US1258968528"/>
        </identifiers>
        <balance>226807.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>5565843.78000000</valUSD>
        <pctVal>0.225562450479</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ZIONS BANCORPORATION, NATIONAL ASSOCIATION</name>
        <lei>8WH0EE09O9V05QJZ3V89</lei>
        <title>Zions Bancorp NA PREFERRED STOCK</title>
        <cusip>989701859</cusip>
        <identifiers>
          <isin value="US9897018597"/>
        </identifiers>
        <balance>100896.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2534507.52000000</valUSD>
        <pctVal>0.102713936928</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SCE TRUST VII</name>
        <lei>N/A</lei>
        <title>SCE Trust VII PREFERRED STOCK</title>
        <cusip>783892201</cusip>
        <identifiers>
          <isin value="US7838922018"/>
        </identifiers>
        <balance>441699.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>11850784.17000000</valUSD>
        <pctVal>0.480267147830</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>NAVIENT CORPORATION</name>
        <lei>54930067J0ZNOEBRW338</lei>
        <title>Navient Corp PREFERRED STOCK</title>
        <cusip>63938C405</cusip>
        <identifiers>
          <isin value="US63938C4050"/>
        </identifiers>
        <balance>252578.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>5208158.36000000</valUSD>
        <pctVal>0.211066822678</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BRIGHTHOUSE FINANCIAL, INC.</name>
        <lei>5493003T8SZSHOGGAW52</lei>
        <title>Brighthouse Financial Inc PREFERRED STOCK</title>
        <cusip>10922N707</cusip>
        <identifiers>
          <isin value="US10922N7075"/>
        </identifiers>
        <balance>459312.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>9181646.88000000</valUSD>
        <pctVal>0.372097179071</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>F&amp;G ANNUITIES &amp; LIFE, INC.</name>
        <lei>N/A</lei>
        <title>F&amp;G Annuities &amp; Life Inc PREFERRED STOCK</title>
        <cusip>30190A203</cusip>
        <identifiers>
          <isin value="US30190A2033"/>
        </identifiers>
        <balance>276552.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>7646662.80000000</valUSD>
        <pctVal>0.309890120408</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ENSTAR GROUP LIMITED</name>
        <lei>213800AMAL5QFXVUCN04</lei>
        <title>Enstar Group Ltd PREFERRED STOCK</title>
        <cusip>29359U109</cusip>
        <identifiers>
          <isin value="US29359U1097"/>
        </identifiers>
        <balance>319704.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>6573114.24000000</valUSD>
        <pctVal>0.266383285960</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>KEMPER CORPORATION</name>
        <lei>549300FNI1JKTRY2PV09</lei>
        <title>Kemper Corp PREFERRED STOCK</title>
        <cusip>488401308</cusip>
        <identifiers>
          <isin value="US4884013081"/>
        </identifiers>
        <balance>121650.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2890404.00000000</valUSD>
        <pctVal>0.117137065804</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>PUBLIC STORAGE.</name>
        <lei>N/A</lei>
        <title>Public Storage PREFERRED STOCK</title>
        <cusip>74460W644</cusip>
        <identifiers>
          <isin value="US74460W6443"/>
        </identifiers>
        <balance>217216.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>5367407.36000000</valUSD>
        <pctVal>0.217520578136</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>TEXAS CAPITAL BANCSHARES, INC.</name>
        <lei>549300466Q2SXRX0YM48</lei>
        <title>Texas Capital Bancshares Inc PREFERRED STOCK</title>
        <cusip>88224Q305</cusip>
        <identifiers>
          <isin value="US88224Q3056"/>
        </identifiers>
        <balance>239771.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>5159871.92000000</valUSD>
        <pctVal>0.209109957167</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>WELLS FARGO &amp; COMPANY</name>
        <lei>PBLD0EJDB5FWOLXP3B76</lei>
        <title>Wells Fargo &amp; Co PREFERRED STOCK</title>
        <cusip>949746804</cusip>
        <identifiers>
          <isin value="US9497468044"/>
        </identifiers>
        <balance>78932.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>96342820.56000000</valUSD>
        <pctVal>3.904407588606</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>TELEPHONE AND DATA SYSTEMS, INC.</name>
        <lei>N/A</lei>
        <title>Telephone and Data Systems Inc PREFERRED STOCK</title>
        <cusip>879433787</cusip>
        <identifiers>
          <isin value="US8794337878"/>
        </identifiers>
        <balance>348346.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>7513823.22000000</valUSD>
        <pctVal>0.304506638160</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>FIFTH THIRD BANCORP</name>
        <lei>THRNG6BD57P9QWTQLG42</lei>
        <title>Fifth Third Bancorp PREFERRED STOCK</title>
        <cusip>316773860</cusip>
        <identifiers>
          <isin value="US3167738604"/>
        </identifiers>
        <balance>188393.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>4474333.75000000</valUSD>
        <pctVal>0.181327706059</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="534432.00000000"/>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>PUBLIC STORAGE.</name>
        <lei>N/A</lei>
        <title>Public Storage PREFERRED STOCK</title>
        <cusip>74460W552</cusip>
        <identifiers>
          <isin value="US74460W5528"/>
        </identifiers>
        <balance>435817.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>8986546.54000000</valUSD>
        <pctVal>0.364190505345</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>DTE ENERGY COMPANY</name>
        <lei>549300IX8SD6XXD71I78</lei>
        <title>DTE Energy Co PREFERRED STOCK</title>
        <cusip>233331818</cusip>
        <identifiers>
          <isin value="US2333318184"/>
        </identifiers>
        <balance>220212.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>4272112.80000000</valUSD>
        <pctVal>0.173132461129</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BANK OF AMERICA CORPORATION</name>
        <lei>9DJT3UXIJIZJI4WXO774</lei>
        <title>Bank of America Corp PREFERRED STOCK</title>
        <cusip>060505229</cusip>
        <identifiers>
          <isin value="US0605052291"/>
        </identifiers>
        <balance>931554.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>23531054.04000000</valUSD>
        <pctVal>0.953624000497</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>QVC, INC.</name>
        <lei>549300WBLU5NKPX5X472</lei>
        <title>QVC Inc PREFERRED STOCK</title>
        <cusip>747262400</cusip>
        <identifiers>
          <isin value="US7472624003"/>
        </identifiers>
        <balance>404606.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>5004976.22000000</valUSD>
        <pctVal>0.202832624377</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BRIGHTSPRING HEALTH SERVICES, INC.</name>
        <lei>N/A</lei>
        <title>BrightSpring Health Services Inc PREFERRED STOCK</title>
        <cusip>10950A205</cusip>
        <identifiers>
          <isin value="US10950A2050"/>
        </identifiers>
        <balance>161460.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>11484649.80000000</valUSD>
        <pctVal>0.465429116263</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>PUBLIC STORAGE.</name>
        <lei>N/A</lei>
        <title>Public Storage PREFERRED STOCK</title>
        <cusip>74460W420</cusip>
        <identifiers>
          <isin value="US74460W4208"/>
        </identifiers>
        <balance>351870.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>6347734.80000000</valUSD>
        <pctVal>0.257249515630</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>KEYCORP</name>
        <lei>RKPI3RZGV1V1FJTH5T61</lei>
        <title>KeyCorp PREFERRED STOCK</title>
        <cusip>493267868</cusip>
        <identifiers>
          <isin value="US4932678687"/>
        </identifiers>
        <balance>363906.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>8868389.22000000</valUSD>
        <pctVal>0.359402039176</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BANK OF AMERICA CORPORATION</name>
        <lei>9DJT3UXIJIZJI4WXO774</lei>
        <title>Bank of America Corp PREFERRED STOCK</title>
        <cusip>060505682</cusip>
        <identifiers>
          <isin value="US0605056821"/>
        </identifiers>
        <balance>53683.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>66808493.50000000</valUSD>
        <pctVal>2.707493796513</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>AT&amp;T INC.</name>
        <lei>549300Z40J86GGSTL398</lei>
        <title>AT&amp;T Inc PREFERRED STOCK</title>
        <cusip>00206R300</cusip>
        <identifiers>
          <isin value="US00206R3003"/>
        </identifiers>
        <balance>1043286.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>24621549.60000000</valUSD>
        <pctVal>0.997817632312</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>REINSURANCE GROUP OF AMERICA, INCORPORATED</name>
        <lei>LORM1GNEU1DKEW527V90</lei>
        <title>Reinsurance Group of America Inc PREFERRED STOCK</title>
        <cusip>759351885</cusip>
        <identifiers>
          <isin value="US7593518852"/>
        </identifiers>
        <balance>563436.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>15100084.80000000</valUSD>
        <pctVal>0.611948927164</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SL GREEN REALTY CORP.</name>
        <lei>549300VQZPJU97H3GT17</lei>
        <title>SL Green Realty Corp PREFERRED STOCK</title>
        <cusip>78440X507</cusip>
        <identifiers>
          <isin value="US78440X5077"/>
        </identifiers>
        <balance>174636.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>4250640.24000000</valUSD>
        <pctVal>0.172262260052</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BANK OF AMERICA CORPORATION</name>
        <lei>9DJT3UXIJIZJI4WXO774</lei>
        <title>Bank of America Corp PREFERRED STOCK</title>
        <cusip>060505583</cusip>
        <identifiers>
          <isin value="US0605055831"/>
        </identifiers>
        <balance>279054.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>6808917.60000000</valUSD>
        <pctVal>0.275939498066</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>WELLS FARGO &amp; COMPANY</name>
        <lei>PBLD0EJDB5FWOLXP3B76</lei>
        <title>Wells Fargo &amp; Co PREFERRED STOCK</title>
        <cusip>95002Y400</cusip>
        <identifiers>
          <isin value="US95002Y4008"/>
        </identifiers>
        <balance>1004164.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>19028907.80000000</valUSD>
        <pctVal>0.771169160144</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="2299200.00000000"/>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>GLOBE LIFE INC.</name>
        <lei>5493001JFHKQOPP6XA71</lei>
        <title>Globe Life Inc PREFERRED STOCK</title>
        <cusip>37959E300</cusip>
        <identifiers>
          <isin value="US37959E3009"/>
        </identifiers>
        <balance>245260.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>4247903.20000000</valUSD>
        <pctVal>0.172151338245</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>PRUDENTIAL FINANCIAL, INC.</name>
        <lei>5PRBRS5FEH7NREC8OR45</lei>
        <title>Prudential Financial Inc PREFERRED STOCK</title>
        <cusip>744320888</cusip>
        <identifiers>
          <isin value="US7443208886"/>
        </identifiers>
        <balance>401226.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>7912176.72000000</valUSD>
        <pctVal>0.320650388356</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BANK OF AMERICA CORPORATION</name>
        <lei>9DJT3UXIJIZJI4WXO774</lei>
        <title>Bank of America Corp PREFERRED STOCK</title>
        <cusip>06055H608</cusip>
        <identifiers>
          <isin value="US06055H6080"/>
        </identifiers>
        <balance>620812.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>11441565.16000000</valUSD>
        <pctVal>0.463683059895</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>AFFILIATED MANAGERS GROUP, INC.</name>
        <lei>2JE75BUE3T1BLCYYGK54</lei>
        <title>Affiliated Managers Group Inc PREFERRED STOCK</title>
        <cusip>008252843</cusip>
        <identifiers>
          <isin value="US0082528433"/>
        </identifiers>
        <balance>205741.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>4063384.75000000</valUSD>
        <pctVal>0.164673508218</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>TRITON INTERNATIONAL LIMITED</name>
        <lei>N/A</lei>
        <title>Triton International Ltd PREFERRED STOCK</title>
        <cusip>G9078F206</cusip>
        <identifiers>
          <isin value="BMG9078F2067"/>
        </identifiers>
        <balance>109046.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2725059.54000000</valUSD>
        <pctVal>0.110436284567</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>BM</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>WESTERN ALLIANCE BANCORPORATION</name>
        <lei>5493003VJXZ5JXT9S762</lei>
        <title>Western Alliance Bancorp PREFERRED STOCK</title>
        <cusip>957638406</cusip>
        <identifiers>
          <isin value="US9576384062"/>
        </identifiers>
        <balance>241396.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>5298642.20000000</valUSD>
        <pctVal>0.214733788098</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>EPR PROPERTIES</name>
        <lei>549300YSSXFHMPOWZ492</lei>
        <title>EPR Properties PREFERRED STOCK</title>
        <cusip>26884U208</cusip>
        <identifiers>
          <isin value="US26884U2087"/>
        </identifiers>
        <balance>109342.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2346479.32000000</valUSD>
        <pctVal>0.095093870101</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>FLAGSTAR FINANCIAL, INC.</name>
        <lei>529900HVXOTLY61GL030</lei>
        <title>Flagstar Financial Inc PREFERRED STOCK</title>
        <cusip>649445202</cusip>
        <identifiers>
          <isin value="US6494452021"/>
        </identifiers>
        <balance>422461.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>9433554.13000000</valUSD>
        <pctVal>0.382306020506</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>W. R. BERKLEY CORPORATION</name>
        <lei>SQOAGCLKBDWNVYV1OV80</lei>
        <title>W R Berkley Corp PREFERRED STOCK</title>
        <cusip>084423706</cusip>
        <identifiers>
          <isin value="US0844237067"/>
        </identifiers>
        <balance>157748.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>3975249.60000000</valUSD>
        <pctVal>0.161101726258</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>NORTHERN TRUST CORPORATION</name>
        <lei>549300GLF98S992BC502</lei>
        <title>Northern Trust Corp PREFERRED STOCK</title>
        <cusip>665859856</cusip>
        <identifiers>
          <isin value="US6658598569"/>
        </identifiers>
        <balance>323646.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>7091083.86000000</valUSD>
        <pctVal>0.287374621933</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BANK OF AMERICA CORPORATION</name>
        <lei>9DJT3UXIJIZJI4WXO774</lei>
        <title>Bank of America Corp PREFERRED STOCK</title>
        <cusip>06055H400</cusip>
        <identifiers>
          <isin value="US06055H4002"/>
        </identifiers>
        <balance>755828.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>14715971.16000000</valUSD>
        <pctVal>0.596382264260</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BANK OZK</name>
        <lei>549300VYK2WBD7SST478</lei>
        <title>Bank OZK PREFERRED STOCK</title>
        <cusip>06417N202</cusip>
        <identifiers>
          <isin value="US06417N2027"/>
        </identifiers>
        <balance>291895.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>5149027.80000000</valUSD>
        <pctVal>0.208670486284</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="32756.00000000"/>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BANK OF AMERICA CORPORATION</name>
        <lei>9DJT3UXIJIZJI4WXO774</lei>
        <title>Bank of America Corp PREFERRED STOCK</title>
        <cusip>06055H871</cusip>
        <identifiers>
          <isin value="US06055H8714"/>
        </identifiers>
        <balance>484271.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>10363399.40000000</valUSD>
        <pctVal>0.419989107916</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="829474.16000000"/>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BRIGHTHOUSE FINANCIAL, INC.</name>
        <lei>5493003T8SZSHOGGAW52</lei>
        <title>Brighthouse Financial Inc PREFERRED STOCK</title>
        <cusip>10922N889</cusip>
        <identifiers>
          <isin value="US10922N8891"/>
        </identifiers>
        <balance>288213.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>5101370.10000000</valUSD>
        <pctVal>0.206739101211</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BANK OF AMERICA CORPORATION</name>
        <lei>9DJT3UXIJIZJI4WXO774</lei>
        <title>Bank of America Corp PREFERRED STOCK</title>
        <cusip>060505179</cusip>
        <identifiers>
          <isin value="US0605051798"/>
        </identifiers>
        <balance>736972.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>19279187.52000000</valUSD>
        <pctVal>0.781312043987</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>QWEST CORPORATION</name>
        <lei>549300R2L4N683OO1509</lei>
        <title>Qwest Corp PREFERRED STOCK</title>
        <cusip>74913G873</cusip>
        <identifiers>
          <isin value="US74913G8731"/>
        </identifiers>
        <balance>510312.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>9170306.64000000</valUSD>
        <pctVal>0.371637602334</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>U.S. BANCORP</name>
        <lei>N1GZ7BBF3NP8GI976H15</lei>
        <title>US Bancorp PREFERRED STOCK</title>
        <cusip>902973718</cusip>
        <identifiers>
          <isin value="US9029737189"/>
        </identifiers>
        <balance>610606.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>11375589.78000000</valUSD>
        <pctVal>0.461009329016</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="445056.00000000"/>
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      </invstOrSec>
      <invstOrSec>
        <name>BIP Bermuda Holdings I Limited</name>
        <lei>549300Y8SLOLKXX0MZ44</lei>
        <title>BIP Bermuda Holdings I Ltd PREFERRED STOCK</title>
        <cusip>05554M100</cusip>
        <identifiers>
          <isin value="US05554M1009"/>
        </identifiers>
        <balance>243299.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>4469402.63000000</valUSD>
        <pctVal>0.181127866546</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>CA</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>PUBLIC STORAGE.</name>
        <lei>N/A</lei>
        <title>Public Storage PREFERRED STOCK</title>
        <cusip>74460W669</cusip>
        <identifiers>
          <isin value="US74460W6690"/>
        </identifiers>
        <balance>241134.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>5570195.40000000</valUSD>
        <pctVal>0.225738805064</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>STIFEL FINANCIAL CORP.</name>
        <lei>549300E5F07FE5GHJX84</lei>
        <title>Stifel Financial Corp PREFERRED STOCK</title>
        <cusip>860630870</cusip>
        <identifiers>
          <isin value="US8606308703"/>
        </identifiers>
        <balance>168952.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>4286312.24000000</valUSD>
        <pctVal>0.173707910353</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>STIFEL FINANCIAL CORP.</name>
        <lei>549300E5F07FE5GHJX84</lei>
        <title>Stifel Financial Corp PREFERRED STOCK</title>
        <cusip>860630607</cusip>
        <identifiers>
          <isin value="US8606306079"/>
        </identifiers>
        <balance>182475.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>4061893.50000000</valUSD>
        <pctVal>0.164613073536</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>JPMORGAN CHASE &amp; CO.</name>
        <lei>8I5DZWZKVSZI1NUHU748</lei>
        <title>JPMorgan Chase &amp; Co PREFERRED STOCK</title>
        <cusip>48128B648</cusip>
        <identifiers>
          <isin value="US48128B6487"/>
        </identifiers>
        <balance>1481812.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>37430571.12000000</valUSD>
        <pctVal>1.516918490421</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>DIGITAL REALTY TRUST, INC.</name>
        <lei>549300HKCZ31D08NEI41</lei>
        <title>Digital Realty Trust Inc PREFERRED STOCK</title>
        <cusip>253868830</cusip>
        <identifiers>
          <isin value="US2538688308"/>
        </identifiers>
        <balance>167277.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>4171888.38000000</valUSD>
        <pctVal>0.169070747098</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>DUKE ENERGY CORPORATION</name>
        <lei>I1BZKREC126H0VB1BL91</lei>
        <title>Duke Energy Corp PREFERRED STOCK</title>
        <cusip>26441C402</cusip>
        <identifiers>
          <isin value="US26441C4024"/>
        </identifiers>
        <balance>404069.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>9980504.30000000</valUSD>
        <pctVal>0.404471827797</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>KIMCO REALTY CORPORATION.</name>
        <lei>254900ARY41P4V1JL861</lei>
        <title>Kimco Realty Corp PREFERRED STOCK</title>
        <cusip>49446R711</cusip>
        <identifiers>
          <isin value="US49446R7118"/>
        </identifiers>
        <balance>197166.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>4452008.28000000</valUSD>
        <pctVal>0.180422939788</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>MORGAN STANLEY</name>
        <lei>IGJSJL3JD5P30I6NJZ34</lei>
        <title>Morgan Stanley PREFERRED STOCK</title>
        <cusip>61762V861</cusip>
        <identifiers>
          <isin value="US61762V8616"/>
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        <balance>1041743.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>20032717.89000000</valUSD>
        <pctVal>0.811849760008</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="1073280.00000000"/>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ASSURANT, INC.</name>
        <lei>H3F39CAXWQRVWURFXL38</lei>
        <title>Assurant Inc PREFERRED STOCK</title>
        <cusip>04621X306</cusip>
        <identifiers>
          <isin value="US04621X3061"/>
        </identifiers>
        <balance>202778.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>4450977.10000000</valUSD>
        <pctVal>0.180381149990</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>THE ALLSTATE CORPORATION</name>
        <lei>OBT0W1ED8G0NWVOLOJ77</lei>
        <title>Allstate Corp/The PREFERRED STOCK</title>
        <cusip>020002788</cusip>
        <identifiers>
          <isin value="US0200027888"/>
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        <balance>473282.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>12906400.14000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>UNUM GROUP</name>
        <lei>549300E32YFDO6TZ8R31</lei>
        <title>Unum Group PREFERRED STOCK</title>
        <cusip>91529Y601</cusip>
        <identifiers>
          <isin value="US91529Y6014"/>
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        <balance>240271.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>6076453.59000000</valUSD>
        <pctVal>0.246255521384</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BROOKFIELD INFRASTRUCTURE FINANCE ULC</name>
        <lei>N/A</lei>
        <title>Brookfield Infrastructure Finance ULC PREFERRED STOCK</title>
        <cusip>11276B208</cusip>
        <identifiers>
          <isin value="US11276B2088"/>
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        <balance>114887.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>3019230.36000000</valUSD>
        <pctVal>0.122357907530</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>CA</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>AT&amp;T INC.</name>
        <lei>549300Z40J86GGSTL398</lei>
        <title>AT&amp;T Inc PREFERRED STOCK</title>
        <cusip>00206R409</cusip>
        <identifiers>
          <isin value="US00206R4092"/>
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        <balance>646075.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>16242325.50000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>MORGAN STANLEY</name>
        <lei>IGJSJL3JD5P30I6NJZ34</lei>
        <title>Morgan Stanley PREFERRED STOCK</title>
        <cusip>61747S504</cusip>
        <identifiers>
          <isin value="US61747S5047"/>
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        <balance>886605.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>21269653.95000000</valUSD>
        <pctVal>0.861978067558</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Truist Financial Corporation</name>
        <lei>549300DRQQI75D2JP341</lei>
        <title>Truist Financial Corp PREFERRED STOCK</title>
        <cusip>89832Q695</cusip>
        <identifiers>
          <isin value="US89832Q6952"/>
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        <balance>744604.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>15673914.20000000</valUSD>
        <pctVal>0.635204047275</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>EQUITABLE HOLDINGS, INC.</name>
        <lei>549300FIBAKMNHPZ4009</lei>
        <title>Equitable Holdings Inc PREFERRED STOCK</title>
        <cusip>29452E200</cusip>
        <identifiers>
          <isin value="US29452E2000"/>
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        <balance>643974.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>14779203.30000000</valUSD>
        <pctVal>0.598944822070</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>NATIONAL RURAL UTILITIES COOPERATIVE FINANCE CORPORATION</name>
        <lei>4NYF266XZC35SCTGX023</lei>
        <title>National Rural Utilities Cooperative Finance Corp PREFERRED STOCK</title>
        <cusip>637432105</cusip>
        <identifiers>
          <isin value="US6374321056"/>
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        <balance>211246.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>5228338.50000000</valUSD>
        <pctVal>0.211884646894</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>CAPITAL ONE FINANCIAL CORPORATION</name>
        <lei>ZUE8T73ROZOF6FLBAR73</lei>
        <title>Capital One Financial Corp PREFERRED STOCK</title>
        <cusip>14040H782</cusip>
        <identifiers>
          <isin value="US14040H7825"/>
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        <balance>983309.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>19626847.64000000</valUSD>
        <pctVal>0.795401384562</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>SYNOVUS FINANCIAL CORP.</name>
        <lei>549300EIUS8UN5JTLE54</lei>
        <title>Synovus Financial Corp PREFERRED STOCK</title>
        <cusip>87161C600</cusip>
        <identifiers>
          <isin value="US87161C6003"/>
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        <balance>148346.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>3818426.04000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>AEGON FUNDING COMPANY LLC</name>
        <lei>KEIOKM01PSK5VZ5CCI74</lei>
        <title>AEGON Funding Co LLC PREFERRED STOCK</title>
        <cusip>00775V104</cusip>
        <identifiers>
          <isin value="US00775V1044"/>
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        <balance>744093.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>16213786.47000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>NL</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>ARCH CAPITAL GROUP LTD.</name>
        <lei>549300AYR4P8AFKDCE43</lei>
        <title>Arch Capital Group Ltd PREFERRED STOCK</title>
        <cusip>03939A107</cusip>
        <identifiers>
          <isin value="US03939A1079"/>
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        <balance>251241.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>5781055.41000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Fidelity Money Market Government Portfolio</name>
        <lei>N/A</lei>
        <title>Fidelity Money Market Government Portfolio</title>
        <cusip>31607A703</cusip>
        <identifiers>
          <isin value="US31607A7037"/>
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        <balance>10782146.39</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>10782146.39</valUSD>
        <pctVal>0.436959328592</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <cashCollateralCondition cashCollateralVal="10782146.39" isCashCollateral="Y"/>
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      <invstOrSec>
        <name>AT&amp;T INC.</name>
        <lei>549300Z40J86GGSTL398</lei>
        <title>AT&amp;T Inc PREFERRED STOCK</title>
        <cusip>00206R706</cusip>
        <identifiers>
          <isin value="US00206R7061"/>
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        <balance>1403135.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>28301232.95000000</valUSD>
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        <assetCat>EP</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>TPG OPERATING GROUP II, L.P.</name>
        <lei>2549001H9RJQNZT7MU11</lei>
        <title>TPG Operating Group II LP PREFERRED STOCK</title>
        <cusip>872652102</cusip>
        <identifiers>
          <isin value="US8726521029"/>
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        <balance>320295.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>8343684.75000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>CAPITAL ONE FINANCIAL CORPORATION</name>
        <lei>ZUE8T73ROZOF6FLBAR73</lei>
        <title>Capital One Financial Corp PREFERRED STOCK</title>
        <cusip>14040H733</cusip>
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          <isin value="US14040H7338"/>
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        <balance>339502.00000000</balance>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>BROOKFIELD PROPERTY PARTNERS L.P.</name>
        <lei>5493004J5Z0TZW83NU62</lei>
        <title>Brookfield Property Partners LP PREFERRED STOCK</title>
        <cusip>G16249156</cusip>
        <identifiers>
          <isin value="BMG162491564"/>
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        <balance>202778.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3333670.32000000</valUSD>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>BRIGHTHOUSE FINANCIAL, INC.</name>
        <lei>5493003T8SZSHOGGAW52</lei>
        <title>Brighthouse Financial Inc PREFERRED STOCK</title>
        <cusip>10922N301</cusip>
        <identifiers>
          <isin value="US10922N3017"/>
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        <balance>341272.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>8149575.36000000</valUSD>
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        <assetCat>EP</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>WELLS FARGO &amp; COMPANY</name>
        <lei>PBLD0EJDB5FWOLXP3B76</lei>
        <title>Wells Fargo &amp; Co PREFERRED STOCK</title>
        <cusip>94988U656</cusip>
        <identifiers>
          <isin value="US94988U6560"/>
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        <balance>555631.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>13707416.77000000</valUSD>
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        <assetCat>EP</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>CHART INDUSTRIES, INC.</name>
        <lei>EM7QGKC1GYOF3LSZSL80</lei>
        <title>Chart Industries Inc PREFERRED STOCK</title>
        <cusip>16115Q407</cusip>
        <identifiers>
          <isin value="US16115Q4073"/>
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        <balance>160442.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>11545406.32000000</valUSD>
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        <assetCat>EP</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>PRUDENTIAL FINANCIAL, INC.</name>
        <lei>5PRBRS5FEH7NREC8OR45</lei>
        <title>Prudential Financial Inc PREFERRED STOCK</title>
        <cusip>744320805</cusip>
        <identifiers>
          <isin value="US7443208050"/>
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        <balance>452008.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>11304720.08000000</valUSD>
        <pctVal>0.458137249987</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>KEYCORP</name>
        <lei>RKPI3RZGV1V1FJTH5T61</lei>
        <title>KeyCorp PREFERRED STOCK</title>
        <cusip>493267876</cusip>
        <identifiers>
          <isin value="US4932678760"/>
        </identifiers>
        <balance>340154.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>8177302.16000000</valUSD>
        <pctVal>0.331394912690</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="49035.00000000"/>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>PUBLIC STORAGE.</name>
        <lei>N/A</lei>
        <title>Public Storage PREFERRED STOCK</title>
        <cusip>74460W578</cusip>
        <identifiers>
          <isin value="US74460W5783"/>
        </identifiers>
        <balance>190358.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>4102214.90000000</valUSD>
        <pctVal>0.166247146311</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CITIZENS FINANCIAL GROUP, INC.</name>
        <lei>2138004JDDA4ZQUPFW65</lei>
        <title>Citizens Financial Group Inc PREFERRED STOCK</title>
        <cusip>174610600</cusip>
        <identifiers>
          <isin value="US1746106004"/>
        </identifiers>
        <balance>323619.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>8828326.32000000</valUSD>
        <pctVal>0.357778442422</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BRUNSWICK CORPORATION</name>
        <lei>YM4O38W15AX4YLLQKU27</lei>
        <title>Brunswick Corp/DE PREFERRED STOCK</title>
        <cusip>117043604</cusip>
        <identifiers>
          <isin value="US1170436042"/>
        </identifiers>
        <balance>172735.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>4280373.30000000</valUSD>
        <pctVal>0.173467227733</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>FIRST CITIZENS BANCSHARES, INC.</name>
        <lei>549300N3Z00ZHE2XC526</lei>
        <title>First Citizens BancShares Inc/NC PREFERRED STOCK</title>
        <cusip>31959X202</cusip>
        <identifiers>
          <isin value="US31959X2027"/>
        </identifiers>
        <balance>148760.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>3479496.40000000</valUSD>
        <pctVal>0.141010737175</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>UNITED STATES CELLULAR CORPORATION</name>
        <lei>549300B164AZXESI6E03</lei>
        <title>United States Cellular Corp PREFERRED STOCK</title>
        <cusip>911684801</cusip>
        <identifiers>
          <isin value="US9116848014"/>
        </identifiers>
        <balance>405624.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>9215777.28000000</valUSD>
        <pctVal>0.373480354195</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ATHENE HOLDING LTD.</name>
        <lei>549300H316CT32FQXI76</lei>
        <title>Athene Holding Ltd PREFERRED STOCK</title>
        <cusip>04686J200</cusip>
        <identifiers>
          <isin value="US04686J2006"/>
        </identifiers>
        <balance>262504.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>5903714.96000000</valUSD>
        <pctVal>0.239255082597</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>KEYCORP</name>
        <lei>RKPI3RZGV1V1FJTH5T61</lei>
        <title>KeyCorp PREFERRED STOCK</title>
        <cusip>493267843</cusip>
        <identifiers>
          <isin value="US4932678430"/>
        </identifiers>
        <balance>490420.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>12505710.00000000</valUSD>
        <pctVal>0.506808797387</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>NEW YORK COMMUNITY CAPITAL TRUST V</name>
        <lei>N/A</lei>
        <title>New York Community Capital Trust V PREFERRED STOCK</title>
        <cusip>64944P307</cusip>
        <identifiers>
          <isin value="US64944P3073"/>
        </identifiers>
        <balance>55439.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2175980.75000000</valUSD>
        <pctVal>0.088184212415</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>METLIFE, INC.</name>
        <lei>C4BXATY60WC6XEOZDX54</lei>
        <title>MetLife Inc PREFERRED STOCK</title>
        <cusip>59156R504</cusip>
        <identifiers>
          <isin value="US59156R5046"/>
        </identifiers>
        <balance>481398.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>11938670.40000000</valUSD>
        <pctVal>0.483828842011</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>WELLS FARGO &amp; COMPANY</name>
        <lei>PBLD0EJDB5FWOLXP3B76</lei>
        <title>Wells Fargo &amp; Co PREFERRED STOCK</title>
        <cusip>94988U128</cusip>
        <identifiers>
          <isin value="US94988U1280"/>
        </identifiers>
        <balance>939777.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>19011688.71000000</valUSD>
        <pctVal>0.770471336007</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>MORGAN STANLEY</name>
        <lei>IGJSJL3JD5P30I6NJZ34</lei>
        <title>Morgan Stanley PREFERRED STOCK</title>
        <cusip>61763E207</cusip>
        <identifiers>
          <isin value="US61763E2072"/>
        </identifiers>
        <balance>682492.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>17280697.44000000</valUSD>
        <pctVal>0.700320852441</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SCE TRUST VI</name>
        <lei>N/A</lei>
        <title>SCE Trust VI PREFERRED STOCK</title>
        <cusip>78410V200</cusip>
        <identifiers>
          <isin value="US78410V2007"/>
        </identifiers>
        <balance>379356.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>7765417.32000000</valUSD>
        <pctVal>0.314702788818</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CMS ENERGY CORPORATION</name>
        <lei>549300IA9XFBAGNIBW29</lei>
        <title>CMS Energy Corp PREFERRED STOCK</title>
        <cusip>125896845</cusip>
        <identifiers>
          <isin value="US1258968452"/>
        </identifiers>
        <balance>514152.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>12504176.64000000</valUSD>
        <pctVal>0.506746656146</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>M&amp;T BANK CORPORATION</name>
        <lei>549300WYXDDBYRASEG81</lei>
        <title>M&amp;T Bank Corp PREFERRED STOCK</title>
        <cusip>55261F864</cusip>
        <identifiers>
          <isin value="US55261F8648"/>
        </identifiers>
        <balance>603134.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>16580153.66000000</valUSD>
        <pctVal>0.671930481109</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CAPITAL ONE FINANCIAL CORPORATION</name>
        <lei>ZUE8T73ROZOF6FLBAR73</lei>
        <title>Capital One Financial Corp PREFERRED STOCK</title>
        <cusip>14040H824</cusip>
        <identifiers>
          <isin value="US14040H8245"/>
        </identifiers>
        <balance>1207485.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>25345110.15000000</valUSD>
        <pctVal>1.027140785670</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>JPMORGAN CHASE &amp; CO.</name>
        <lei>8I5DZWZKVSZI1NUHU748</lei>
        <title>JPMorgan Chase &amp; Co PREFERRED STOCK</title>
        <cusip>48128B580</cusip>
        <identifiers>
          <isin value="US48128B5802"/>
        </identifiers>
        <balance>1182810.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>24626104.20000000</valUSD>
        <pctVal>0.998002212904</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="1128256.00000000"/>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>DIGITAL REALTY TRUST, INC.</name>
        <lei>549300HKCZ31D08NEI41</lei>
        <title>Digital Realty Trust Inc PREFERRED STOCK</title>
        <cusip>253868822</cusip>
        <identifiers>
          <isin value="US2538688225"/>
        </identifiers>
        <balance>279794.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>6289769.12000000</valUSD>
        <pctVal>0.254900387387</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BANK OF AMERICA CORPORATION</name>
        <lei>9DJT3UXIJIZJI4WXO774</lei>
        <title>Bank of America Corp PREFERRED STOCK</title>
        <cusip>060505815</cusip>
        <identifiers>
          <isin value="US0605058157"/>
        </identifiers>
        <balance>201597.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>4955254.26000000</valUSD>
        <pctVal>0.200817582708</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>WELLS FARGO &amp; COMPANY</name>
        <lei>PBLD0EJDB5FWOLXP3B76</lei>
        <title>Wells Fargo &amp; Co PREFERRED STOCK</title>
        <cusip>95002Y202</cusip>
        <identifiers>
          <isin value="US95002Y2028"/>
        </identifiers>
        <balance>843071.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>16203824.62000000</valUSD>
        <pctVal>0.656679298395</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BBHREPOS</name>
        <lei>N/A</lei>
        <title>BBHREPOS</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="N/A"/>
          <ticker value="BBHREPOS"/>
        </identifiers>
        <balance>18445725</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>18445725</valUSD>
        <pctVal>0.747534982354</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>RA</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <repurchaseAgrmt>
          <transCat>Reverse repurchase</transCat>
          <notClearedCentCparty isCleared="N">
            <counterpartyInfos>
              <counterpartyInfo lei="N/A" name="BBHREPOS"/>
            </counterpartyInfos>
          </notClearedCentCparty>
          <isTriParty>Y</isTriParty>
          <repurchaseRt>4.5</repurchaseRt>
          <maturityDt>N/A</maturityDt>
          <repurchaseCollaterals>
            <repurchaseCollateral>
              <principalAmt>18445725</principalAmt>
              <principalCd>USD</principalCd>
              <collateralVal>18445725</collateralVal>
              <collateralCd>USD</collateralCd>
              <invstCat>UST</invstCat>
            </repurchaseCollateral>
          </repurchaseCollaterals>
        </repurchaseAgrmt>
        <securityLending>
          <cashCollateralCondition cashCollateralVal="18445725" isCashCollateral="Y"/>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>REGIONS FINANCIAL CORPORATION</name>
        <lei>CW05CS5KW59QTC0DG824</lei>
        <title>Regions Financial Corp PREFERRED STOCK</title>
        <cusip>7591EP704</cusip>
        <identifiers>
          <isin value="US7591EP7044"/>
        </identifiers>
        <balance>398920.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>10044805.60000000</valUSD>
        <pctVal>0.407077714589</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SCE TRUST V</name>
        <lei>N/A</lei>
        <title>SCE Trust V PREFERRED STOCK</title>
        <cusip>78409W201</cusip>
        <identifiers>
          <isin value="US78409W2017"/>
        </identifiers>
        <balance>250931.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>6273275.00000000</valUSD>
        <pctVal>0.254231943522</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>FIFTH THIRD BANCORP</name>
        <lei>THRNG6BD57P9QWTQLG42</lei>
        <title>Fifth Third Bancorp PREFERRED STOCK</title>
        <cusip>316773886</cusip>
        <identifiers>
          <isin value="US3167738869"/>
        </identifiers>
        <balance>147969.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>3736217.25000000</valUSD>
        <pctVal>0.151414655485</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>EQUITABLE HOLDINGS, INC.</name>
        <lei>549300FIBAKMNHPZ4009</lei>
        <title>Equitable Holdings Inc PREFERRED STOCK</title>
        <cusip>29452E408</cusip>
        <identifiers>
          <isin value="US29452E4089"/>
        </identifiers>
        <balance>252763.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>4921295.61000000</valUSD>
        <pctVal>0.199441367958</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>FORD MOTOR COMPANY</name>
        <lei>20S05OYHG0MQM4VUIC57</lei>
        <title>Ford Motor Co PREFERRED STOCK</title>
        <cusip>345370837</cusip>
        <identifiers>
          <isin value="US3453708378"/>
        </identifiers>
        <balance>643736.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>15198606.96000000</valUSD>
        <pctVal>0.615941655080</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Brookfield Property Preferred L.P.</name>
        <lei>254900N07TR905Y0G344</lei>
        <title>Brookfield Property Preferred LP PREFERRED STOCK</title>
        <cusip>G1624R107</cusip>
        <identifiers>
          <isin value="BMG1624R1079"/>
        </identifiers>
        <balance>541798.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>9053444.58000000</valUSD>
        <pctVal>0.366901628120</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BANK OF AMERICA CORPORATION</name>
        <lei>9DJT3UXIJIZJI4WXO774</lei>
        <title>Bank of America Corp PREFERRED STOCK</title>
        <cusip>060505625</cusip>
        <identifiers>
          <isin value="US0605056250"/>
        </identifiers>
        <balance>196626.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>4534195.56000000</valUSD>
        <pctVal>0.183753677230</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ATHENE HOLDING LTD.</name>
        <lei>549300H316CT32FQXI76</lei>
        <title>Athene Holding Ltd PREFERRED STOCK</title>
        <cusip>04686J507</cusip>
        <identifiers>
          <isin value="US04686J5074"/>
        </identifiers>
        <balance>401437.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>10975287.58000000</valUSD>
        <pctVal>0.444786605430</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>HUNTINGTON BANCSHARES INCORPORATED</name>
        <lei>549300XTVCVV9I7B5T19</lei>
        <title>Huntington Bancshares Inc/OH PREFERRED STOCK</title>
        <cusip>446150823</cusip>
        <identifiers>
          <isin value="US4461508230"/>
        </identifiers>
        <balance>405604.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>7937670.28000000</valUSD>
        <pctVal>0.321683545249</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="402990.00000000"/>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>MORGAN STANLEY</name>
        <lei>IGJSJL3JD5P30I6NJZ34</lei>
        <title>Morgan Stanley PREFERRED STOCK</title>
        <cusip>61762V804</cusip>
        <identifiers>
          <isin value="US61762V8046"/>
        </identifiers>
        <balance>404659.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>9238364.97000000</valUSD>
        <pctVal>0.374395747244</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SYNCHRONY FINANCIAL</name>
        <lei>549300RS7EWPM9MA6C78</lei>
        <title>Synchrony Financial PREFERRED STOCK</title>
        <cusip>87165B400</cusip>
        <identifiers>
          <isin value="US87165B4005"/>
        </identifiers>
        <balance>401704.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>10645156.00000000</valUSD>
        <pctVal>0.431407629823</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="73724.00000000"/>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>PUBLIC STORAGE.</name>
        <lei>N/A</lei>
        <title>Public Storage PREFERRED STOCK</title>
        <cusip>74460W594</cusip>
        <identifiers>
          <isin value="US74460W5940"/>
        </identifiers>
        <balance>218282.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>4605750.20000000</valUSD>
        <pctVal>0.186653514268</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BRUNSWICK CORPORATION</name>
        <lei>YM4O38W15AX4YLLQKU27</lei>
        <title>Brunswick Corp/DE PREFERRED STOCK</title>
        <cusip>117043505</cusip>
        <identifiers>
          <isin value="US1170435051"/>
        </identifiers>
        <balance>98797.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2487708.46000000</valUSD>
        <pctVal>0.100817349263</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>METLIFE, INC.</name>
        <lei>C4BXATY60WC6XEOZDX54</lei>
        <title>MetLife Inc PREFERRED STOCK</title>
        <cusip>59156R876</cusip>
        <identifiers>
          <isin value="US59156R8768"/>
        </identifiers>
        <balance>646850.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>15686112.50000000</valUSD>
        <pctVal>0.635698397916</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>U.S. BANCORP</name>
        <lei>N1GZ7BBF3NP8GI976H15</lei>
        <title>US Bancorp PREFERRED STOCK</title>
        <cusip>902973155</cusip>
        <identifiers>
          <isin value="US9029731554"/>
        </identifiers>
        <balance>807934.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>18647116.72000000</valUSD>
        <pctVal>0.755696621751</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>RLJ LODGING TRUST</name>
        <lei>N/A</lei>
        <title>RLJ Lodging Trust PREFERRED STOCK</title>
        <cusip>74965L200</cusip>
        <identifiers>
          <isin value="US74965L2007"/>
        </identifiers>
        <balance>261189.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>6615917.37000000</valUSD>
        <pctVal>0.268117933800</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="215730.00000000"/>
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      </invstOrSec>
      <invstOrSec>
        <name>ASPEN INSURANCE HOLDINGS LIMITED</name>
        <lei>549300YX6HECG9XQCQ75</lei>
        <title>Aspen Insurance Holdings Ltd PREFERRED STOCK</title>
        <cusip>G05384204</cusip>
        <identifiers>
          <isin value="BMG053842040"/>
        </identifiers>
        <balance>195625.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>4219631.25000000</valUSD>
        <pctVal>0.171005583787</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>BM</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CARLYLE FINANCE LLC</name>
        <lei>N/A</lei>
        <title>Carlyle Finance LLC PREFERRED STOCK</title>
        <cusip>14314C105</cusip>
        <identifiers>
          <isin value="US14314C1053"/>
        </identifiers>
        <balance>398095.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>7802662.00000000</valUSD>
        <pctVal>0.316212173850</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="209825.00000000"/>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>STATE STREET CORPORATION</name>
        <lei>549300ZFEEJ2IP5VME73</lei>
        <title>State Street Corp PREFERRED STOCK</title>
        <cusip>857477855</cusip>
        <identifiers>
          <isin value="US8574778556"/>
        </identifiers>
        <balance>401468.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>10064802.76000000</valUSD>
        <pctVal>0.407888123324</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>AXIS CAPITAL HOLDINGS LIMITED</name>
        <lei>635400VD2NQBYAHMEM55</lei>
        <title>Axis Capital Holdings Ltd PREFERRED STOCK</title>
        <cusip>05461T305</cusip>
        <identifiers>
          <isin value="US05461T3059"/>
        </identifiers>
        <balance>446447.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>10295067.82000000</valUSD>
        <pctVal>0.417219889224</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>WaFd, Inc</name>
        <lei>N/A</lei>
        <title>WaFd Inc PREFERRED STOCK</title>
        <cusip>938824307</cusip>
        <identifiers>
          <isin value="US9388243076"/>
        </identifiers>
        <balance>227988.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>4110623.64000000</valUSD>
        <pctVal>0.166587920517</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ALGONQUIN POWER &amp; UTILITIES CORP.</name>
        <lei>549300K5VIUTJXQL7X75</lei>
        <title>Algonquin Power &amp; Utilities Corp PREFERRED STOCK</title>
        <cusip>015857808</cusip>
        <identifiers>
          <isin value="US0158578080"/>
        </identifiers>
        <balance>271271.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>6928261.34000000</valUSD>
        <pctVal>0.280776045319</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>CA</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>NEXTERA ENERGY, INC.</name>
        <lei>254900RHL9MEUS5NKX63</lei>
        <title>NextEra Energy Inc PREFERRED STOCK</title>
        <cusip>65339F663</cusip>
        <identifiers>
          <isin value="US65339F6631"/>
        </identifiers>
        <balance>798169.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>41369099.27000000</valUSD>
        <pctVal>1.676532036167</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>DUKE ENERGY CORPORATION</name>
        <lei>I1BZKREC126H0VB1BL91</lei>
        <title>Duke Energy Corp PREFERRED STOCK</title>
        <cusip>26441C501</cusip>
        <identifiers>
          <isin value="US26441C5013"/>
        </identifiers>
        <balance>807815.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>20082280.90000000</valUSD>
        <pctVal>0.813858360038</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>APOLLO GLOBAL MANAGEMENT, INC.</name>
        <lei>254900LMFT1CY9IYB476</lei>
        <title>Apollo Global Management Inc PREFERRED STOCK</title>
        <cusip>03769M205</cusip>
        <identifiers>
          <isin value="US03769M2052"/>
        </identifiers>
        <balance>468545.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>12739738.55000000</valUSD>
        <pctVal>0.516293083203</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>THE SOUTHERN COMPANY</name>
        <lei>549300FC3G3YU2FBZD92</lei>
        <title>Southern Co/The PREFERRED STOCK</title>
        <cusip>842587800</cusip>
        <identifiers>
          <isin value="US8425878001"/>
        </identifiers>
        <balance>804589.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>17596361.43000000</valUSD>
        <pctVal>0.713113511726</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>PUBLIC STORAGE.</name>
        <lei>N/A</lei>
        <title>Public Storage PREFERRED STOCK</title>
        <cusip>74460W461</cusip>
        <identifiers>
          <isin value="US74460W4612"/>
        </identifiers>
        <balance>467346.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>8351473.02000000</valUSD>
        <pctVal>0.338453394303</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SYNOVUS FINANCIAL CORP.</name>
        <lei>549300EIUS8UN5JTLE54</lei>
        <title>Synovus Financial Corp PREFERRED STOCK</title>
        <cusip>87161C709</cusip>
        <identifiers>
          <isin value="US87161C7092"/>
        </identifiers>
        <balance>266985.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>7152528.15000000</valUSD>
        <pctVal>0.289864724992</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>PUBLIC STORAGE.</name>
        <lei>N/A</lei>
        <title>Public Storage PREFERRED STOCK</title>
        <cusip>74460W685</cusip>
        <identifiers>
          <isin value="US74460W6856"/>
        </identifiers>
        <balance>223929.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>5183956.35000000</valUSD>
        <pctVal>0.210086007387</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>PUBLIC STORAGE.</name>
        <lei>N/A</lei>
        <title>Public Storage PREFERRED STOCK</title>
        <cusip>74460W487</cusip>
        <identifiers>
          <isin value="US74460W4877"/>
        </identifiers>
        <balance>134118.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2373888.60000000</valUSD>
        <pctVal>0.096204663829</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>APOLLO GLOBAL MANAGEMENT, INC.</name>
        <lei>254900LMFT1CY9IYB476</lei>
        <title>Apollo Global Management Inc PREFERRED STOCK</title>
        <cusip>03769M304</cusip>
        <identifiers>
          <isin value="US03769M3043"/>
        </identifiers>
        <balance>570187.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>52844931.16000000</valUSD>
        <pctVal>2.141603796123</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>QWEST CORPORATION</name>
        <lei>549300R2L4N683OO1509</lei>
        <title>Qwest Corp PREFERRED STOCK</title>
        <cusip>74913G881</cusip>
        <identifiers>
          <isin value="US74913G8814"/>
        </identifiers>
        <balance>782696.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>13783276.56000000</valUSD>
        <pctVal>0.558583704358</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>THE ALLSTATE CORPORATION</name>
        <lei>OBT0W1ED8G0NWVOLOJ77</lei>
        <title>Allstate Corp/The PREFERRED STOCK</title>
        <cusip>020002812</cusip>
        <identifiers>
          <isin value="US0200028126"/>
        </identifiers>
        <balance>230174.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>4875085.32000000</valUSD>
        <pctVal>0.197568640900</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="35479.00000000"/>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>THE ALLSTATE CORPORATION</name>
        <lei>OBT0W1ED8G0NWVOLOJ77</lei>
        <title>Allstate Corp/The PREFERRED STOCK</title>
        <cusip>020002838</cusip>
        <identifiers>
          <isin value="US0200028381"/>
        </identifiers>
        <balance>921212.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>20985209.36000000</valUSD>
        <pctVal>0.850450611653</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>PITNEY BOWES INC.</name>
        <lei>549300N2O26NW4ST6W55</lei>
        <title>Pitney Bowes Inc PREFERRED STOCK</title>
        <cusip>724479506</cusip>
        <identifiers>
          <isin value="US7244795065"/>
        </identifiers>
        <balance>344702.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>6897487.02000000</valUSD>
        <pctVal>0.279528879335</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>FORD MOTOR COMPANY</name>
        <lei>20S05OYHG0MQM4VUIC57</lei>
        <title>Ford Motor Co PREFERRED STOCK</title>
        <cusip>345370811</cusip>
        <identifiers>
          <isin value="US3453708113"/>
        </identifiers>
        <balance>489744.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>12145651.20000000</valUSD>
        <pctVal>0.492216985533</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SYNCHRONY FINANCIAL</name>
        <lei>549300RS7EWPM9MA6C78</lei>
        <title>Synchrony Financial PREFERRED STOCK</title>
        <cusip>87165B202</cusip>
        <identifiers>
          <isin value="US87165B2025"/>
        </identifiers>
        <balance>599048.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>12538074.64000000</valUSD>
        <pctVal>0.508120412983</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>RENAISSANCERE HOLDINGS LTD.</name>
        <lei>EK6GB9U3U58PDI411C94</lei>
        <title>RenaissanceRe Holdings Ltd PREFERRED STOCK</title>
        <cusip>75968N309</cusip>
        <identifiers>
          <isin value="US75968N3098"/>
        </identifiers>
        <balance>196782.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>4807384.26000000</valUSD>
        <pctVal>0.194824974782</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>BM</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>HUNTINGTON BANCSHARES INCORPORATED</name>
        <lei>549300XTVCVV9I7B5T19</lei>
        <title>Huntington Bancshares Inc/OH PREFERRED STOCK</title>
        <cusip>446150773</cusip>
        <identifiers>
          <isin value="US4461507737"/>
        </identifiers>
        <balance>263502.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>6974897.94000000</valUSD>
        <pctVal>0.282666049098</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>DTE ENERGY COMPANY</name>
        <lei>549300IX8SD6XXD71I78</lei>
        <title>DTE Energy Co PREFERRED STOCK</title>
        <cusip>233331859</cusip>
        <identifiers>
          <isin value="US2333318598"/>
        </identifiers>
        <balance>318144.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>7310949.12000000</valUSD>
        <pctVal>0.296284923548</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>U.S. BANCORP</name>
        <lei>N1GZ7BBF3NP8GI976H15</lei>
        <title>US Bancorp PREFERRED STOCK</title>
        <cusip>902973668</cusip>
        <identifiers>
          <isin value="US9029736686"/>
        </identifiers>
        <balance>363028.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>7808732.28000000</valUSD>
        <pctVal>0.316458179179</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="4316788.00000000"/>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ATHENE HOLDING LTD.</name>
        <lei>549300H316CT32FQXI76</lei>
        <title>Athene Holding Ltd PREFERRED STOCK</title>
        <cusip>04686J408</cusip>
        <identifiers>
          <isin value="US04686J4085"/>
        </identifiers>
        <balance>465251.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>9184054.74000000</valUSD>
        <pctVal>0.372194760466</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>JPMORGAN CHASE &amp; CO.</name>
        <lei>8I5DZWZKVSZI1NUHU748</lei>
        <title>JPMorgan Chase &amp; Co PREFERRED STOCK</title>
        <cusip>48128B655</cusip>
        <identifiers>
          <isin value="US48128B6552"/>
        </identifiers>
        <balance>1359062.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>34058093.72000000</valUSD>
        <pctVal>1.380244825726</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>GEORGIA POWER COMPANY</name>
        <lei>D981X4Z4RWS7PDMJUZ03</lei>
        <title>Georgia Power Co PREFERRED STOCK</title>
        <cusip>373334440</cusip>
        <identifiers>
          <isin value="US3733344408"/>
        </identifiers>
        <balance>218344.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>5006627.92000000</valUSD>
        <pctVal>0.202899561488</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ARCH CAPITAL GROUP LTD.</name>
        <lei>549300AYR4P8AFKDCE43</lei>
        <title>Arch Capital Group Ltd PREFERRED STOCK</title>
        <cusip>03939A404</cusip>
        <identifiers>
          <isin value="US03939A4040"/>
        </identifiers>
        <balance>399407.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>7964175.58000000</valUSD>
        <pctVal>0.322757704111</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>METLIFE, INC.</name>
        <lei>C4BXATY60WC6XEOZDX54</lei>
        <title>MetLife Inc PREFERRED STOCK</title>
        <cusip>59156R850</cusip>
        <identifiers>
          <isin value="US59156R8503"/>
        </identifiers>
        <balance>806987.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>16979006.48000000</valUSD>
        <pctVal>0.688094466844</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>FORD MOTOR COMPANY</name>
        <lei>20S05OYHG0MQM4VUIC57</lei>
        <title>Ford Motor Co PREFERRED STOCK</title>
        <cusip>345370845</cusip>
        <identifiers>
          <isin value="US3453708451"/>
        </identifiers>
        <balance>606522.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>14453419.26000000</valUSD>
        <pctVal>0.585742035701</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>PUBLIC STORAGE.</name>
        <lei>N/A</lei>
        <title>Public Storage PREFERRED STOCK</title>
        <cusip>74460W396</cusip>
        <identifiers>
          <isin value="US74460W3960"/>
        </identifiers>
        <balance>212369.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>3954310.78000000</valUSD>
        <pctVal>0.160253155631</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>VORNADO REALTY TRUST</name>
        <lei>N/A</lei>
        <title>Vornado Realty Trust PREFERRED STOCK</title>
        <cusip>929042828</cusip>
        <identifiers>
          <isin value="US9290428286"/>
        </identifiers>
        <balance>259144.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>4672366.32000000</valUSD>
        <pctVal>0.189353211900</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>RENAISSANCERE HOLDINGS LTD.</name>
        <lei>EK6GB9U3U58PDI411C94</lei>
        <title>RenaissanceRe Holdings Ltd PREFERRED STOCK</title>
        <cusip>G7498P127</cusip>
        <identifiers>
          <isin value="BMG7498P1279"/>
        </identifiers>
        <balance>397024.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>7305241.60000000</valUSD>
        <pctVal>0.296053619500</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>BM</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>VOYA FINANCIAL, INC.</name>
        <lei>549300T065Z4KJ686G75</lei>
        <title>Voya Financial Inc PREFERRED STOCK</title>
        <cusip>929089209</cusip>
        <identifiers>
          <isin value="US9290892093"/>
        </identifiers>
        <balance>239260.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>6050885.40000000</valUSD>
        <pctVal>0.245219340021</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>JPMORGAN CHASE &amp; CO.</name>
        <lei>8I5DZWZKVSZI1NUHU748</lei>
        <title>JPMorgan Chase &amp; Co PREFERRED STOCK</title>
        <cusip>48128B523</cusip>
        <identifiers>
          <isin value="US48128B5232"/>
        </identifiers>
        <balance>1602820.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>31271018.20000000</valUSD>
        <pctVal>1.267295269682</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>KKR GROUP FINANCE CO. IX LLC</name>
        <lei>N/A</lei>
        <title>KKR Group Finance Co IX LLC PREFERRED STOCK</title>
        <cusip>48253M104</cusip>
        <identifiers>
          <isin value="US48253M1045"/>
        </identifiers>
        <balance>410242.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>8130996.44000000</valUSD>
        <pctVal>0.329518318217</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>THE HARTFORD FINANCIAL SERVICES GROUP, INC.</name>
        <lei>IU7C3FTM7Y3BQM112U94</lei>
        <title>Hartford Financial Services Group Inc/The PREFERRED STOCK</title>
        <cusip>416518603</cusip>
        <identifiers>
          <isin value="US4165186036"/>
        </identifiers>
        <balance>279794.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>7109565.54000000</valUSD>
        <pctVal>0.288123614034</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>NEW MOUNTAIN FINANCE CORPORATION</name>
        <lei>549300L1MPTT1H7SES77</lei>
        <title>New Mountain Finance Corp PREFERRED STOCK</title>
        <cusip>647551308</cusip>
        <identifiers>
          <isin value="US6475513080"/>
        </identifiers>
        <balance>93293.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2378038.57000000</valUSD>
        <pctVal>0.096372846307</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>STIFEL FINANCIAL CORP.</name>
        <lei>549300E5F07FE5GHJX84</lei>
        <title>Stifel Financial Corp PREFERRED STOCK</title>
        <cusip>860630862</cusip>
        <identifiers>
          <isin value="US8606308620"/>
        </identifiers>
        <balance>224707.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>4548069.68000000</valUSD>
        <pctVal>0.184315942473</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ATHENE HOLDING LTD.</name>
        <lei>549300H316CT32FQXI76</lei>
        <title>Athene Holding Ltd PREFERRED STOCK</title>
        <cusip>04686J861</cusip>
        <identifiers>
          <isin value="US04686J8615"/>
        </identifiers>
        <balance>675725.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>17366132.50000000</valUSD>
        <pctVal>0.703783210037</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>THE GOLDMAN SACHS GROUP, INC.</name>
        <lei>784F5XWPLTWKTBV3E584</lei>
        <title>Goldman Sachs Group Inc/The PREFERRED STOCK</title>
        <cusip>38144X609</cusip>
        <identifiers>
          <isin value="US38144X6094"/>
        </identifiers>
        <balance>160270.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>3950655.50000000</valUSD>
        <pctVal>0.160105021054</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>THE SOUTHERN COMPANY</name>
        <lei>549300FC3G3YU2FBZD92</lei>
        <title>Southern Co/The PREFERRED STOCK</title>
        <cusip>842587404</cusip>
        <identifiers>
          <isin value="US8425874042"/>
        </identifiers>
        <balance>358406.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>8307851.08000000</valUSD>
        <pctVal>0.336685563212</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="344706.00000000"/>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>PRUDENTIAL FINANCIAL, INC.</name>
        <lei>5PRBRS5FEH7NREC8OR45</lei>
        <title>Prudential Financial Inc PREFERRED STOCK</title>
        <cusip>744320870</cusip>
        <identifiers>
          <isin value="US7443208704"/>
        </identifiers>
        <balance>243299.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>6330639.98000000</valUSD>
        <pctVal>0.256556727683</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>JPMORGAN CHASE &amp; CO.</name>
        <lei>8I5DZWZKVSZI1NUHU748</lei>
        <title>JPMorgan Chase &amp; Co PREFERRED STOCK</title>
        <cusip>48128B549</cusip>
        <identifiers>
          <isin value="US48128B5497"/>
        </identifiers>
        <balance>1482533.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>31637254.22000000</valUSD>
        <pctVal>1.282137420736</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>THE CHARLES SCHWAB CORPORATION</name>
        <lei>549300VSGCJ7E698NM85</lei>
        <title>Charles Schwab Corp/The PREFERRED STOCK</title>
        <cusip>808513600</cusip>
        <identifiers>
          <isin value="US8085136005"/>
        </identifiers>
        <balance>603490.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>15358820.50000000</valUSD>
        <pctVal>0.622434499671</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Truist Financial Corporation</name>
        <lei>549300DRQQI75D2JP341</lei>
        <title>Truist Financial Corp PREFERRED STOCK</title>
        <cusip>89832Q745</cusip>
        <identifiers>
          <isin value="US89832Q7455"/>
        </identifiers>
        <balance>460126.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>10674923.20000000</valUSD>
        <pctVal>0.432613981068</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="1451169.00000000"/>
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      </invstOrSec>
      <invstOrSec>
        <name>QURATE RETAIL, INC.</name>
        <lei>549300PSXEKU4PHLCR04</lei>
        <title>Qurate Retail Inc PREFERRED STOCK</title>
        <cusip>74915M308</cusip>
        <identifiers>
          <isin value="US74915M3088"/>
        </identifiers>
        <balance>246163.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>10457004.24000000</valUSD>
        <pctVal>0.423782555580</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="7901887.50000000"/>
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      </invstOrSec>
      <invstOrSec>
        <name>BRIGHTHOUSE FINANCIAL, INC.</name>
        <lei>5493003T8SZSHOGGAW52</lei>
        <title>Brighthouse Financial Inc PREFERRED STOCK</title>
        <cusip>10922N509</cusip>
        <identifiers>
          <isin value="US10922N5095"/>
        </identifiers>
        <balance>322757.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>8078607.71000000</valUSD>
        <pctVal>0.327395202516</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>BANK OF AMERICA CORPORATION</name>
        <lei>9DJT3UXIJIZJI4WXO774</lei>
        <title>Bank of America Corp PREFERRED STOCK</title>
        <cusip>06053U601</cusip>
        <identifiers>
          <isin value="US06053U6010"/>
        </identifiers>
        <balance>968884.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>22652507.92000000</valUSD>
        <pctVal>0.918019872261</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>BROOKFIELD PROPERTY PARTNERS L.P.</name>
        <lei>5493004J5Z0TZW83NU62</lei>
        <title>Brookfield Property Partners LP PREFERRED STOCK</title>
        <cusip>G16249149</cusip>
        <identifiers>
          <isin value="BMG162491499"/>
        </identifiers>
        <balance>145837.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2502562.92000000</valUSD>
        <pctVal>0.101419343953</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SEMPRA</name>
        <lei>PBBKGKLRK5S5C0Y4T545</lei>
        <title>Sempra PREFERRED STOCK</title>
        <cusip>816851604</cusip>
        <identifiers>
          <isin value="US8168516040"/>
        </identifiers>
        <balance>611982.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>14712047.28000000</valUSD>
        <pctVal>0.596223244348</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>AT&amp;T INC.</name>
        <lei>549300Z40J86GGSTL398</lei>
        <title>AT&amp;T Inc PREFERRED STOCK</title>
        <cusip>00206R508</cusip>
        <identifiers>
          <isin value="US00206R5081"/>
        </identifiers>
        <balance>961310.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>20600873.30000000</valUSD>
        <pctVal>0.834874934913</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>M&amp;T BANK CORPORATION</name>
        <lei>549300WYXDDBYRASEG81</lei>
        <title>M&amp;T Bank Corp PREFERRED STOCK</title>
        <cusip>55261F872</cusip>
        <identifiers>
          <isin value="US55261F8721"/>
        </identifiers>
        <balance>188476.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>4828755.12000000</valUSD>
        <pctVal>0.195691054345</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="90144.00000000"/>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CITIZENS FINANCIAL GROUP, INC.</name>
        <lei>2138004JDDA4ZQUPFW65</lei>
        <title>Citizens Financial Group Inc PREFERRED STOCK</title>
        <cusip>174610402</cusip>
        <identifiers>
          <isin value="US1746104025"/>
        </identifiers>
        <balance>363960.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>7785104.40000000</valUSD>
        <pctVal>0.315500631191</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>KEYCORP</name>
        <lei>RKPI3RZGV1V1FJTH5T61</lei>
        <title>KeyCorp PREFERRED STOCK</title>
        <cusip>493267702</cusip>
        <identifiers>
          <isin value="US4932677028"/>
        </identifiers>
        <balance>409297.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>10502561.02000000</valUSD>
        <pctVal>0.425628798367</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ATHENE HOLDING LTD.</name>
        <lei>549300H316CT32FQXI76</lei>
        <title>Athene Holding Ltd PREFERRED STOCK</title>
        <cusip>04686J838</cusip>
        <identifiers>
          <isin value="US04686J8383"/>
        </identifiers>
        <balance>463797.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>11989152.45000000</valUSD>
        <pctVal>0.485874687233</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <signature>
      <ncom:dateSigned>2024-11-30</ncom:dateSigned>
      <ncom:nameOfApplicant>GLOBAL X FUNDS</ncom:nameOfApplicant>
      <ncom:signature>Joe Costello</ncom:signature>
      <ncom:signerName>Joe Costello</ncom:signerName>
      <ncom:title>CCO</ncom:title>
    </signature>
  </formData>
</edgarSubmission>
